Central bank Governor Pan Gongsheng has pledged to stick to a supportive monetary policy stance and said the central bank will flexibly use various monetary policy tools including interest rates and reserve requirement ratios to create a good monetary and financial environment for economic development.
The currency found little support as a swathe of weak Japanese economic readings furthered bets that the Bank of Japan will have limited headroom to raise interest rates further.
Market participants are also keeping an eye on the situation in the Middle East for more trading cues. Oil prices settled down 1% on Monday amid hopes a possible ceasefire deal in Gaza could reduce worries about global crude supply disruption.
Bitcoin slid as low as $53,000 last week after the trustees of Mt Gox said they had begun distributing tokens stolen during a 2014 hack, although they did not specify what the overall value of the distribution would be.
Global shares were mixed on Tuesday as investors waited to see if U.S. Federal Reserve Chair Jerome Powell would sound supportive of rate cuts after evidence the U.S. labour market is cooling.
